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On August 25, blockchain infrastructure company LayerZero announced that it will launch a blockchain exchange named ATLAS this fall, targeting financial institutions. ATLAS will not offer consumer-facing applications but will serve as an underlying exchange for other trading platforms and financial institutions. Initially, the platform will support spot cryptocurrency and perpetual futures trading, with plans to expand to prediction contracts, futures, and options in the future. ATLAS will be built on LayerZero's new blockchain, Zero, announced in February of this year, with institutions such as Citadel Securities, the Depository Trust & Clearing Corporation (DTCC), and Intercontinental Exchange (ICE) exploring applications of this blockchain.

On August 25, blockchain infrastructure company LayerZero announced that it will launch a blockchain exchange named ATLAS this fall, targeting financial institutions. ATLAS will not offer consumer-facing applications but will serve as an underlying exchange for other trading platforms and financial institutions. Initially, the platform will support spot cryptocurrency and perpetual futures trading, with plans to expand to prediction contracts, futures, and options in the future. ATLAS will be built on the new blockchain Zero announced by LayerZero in February of this year, with institutions such as Citadel Securities, the Depository Trust & Clearing Corporation (DTCC), and Intercontinental Exchange (ICE) exploring applications of this blockchain.

On August 25, BTC's recent rise to $80,000 was primarily driven by short sellers being forced to cover their positions, rather than a significant influx of new buying. Data from Glassnode shows that as short positions were liquidated, BTC futures open interest fell to a 5-month low of approximately 587,584 BTC. The price increase driven by forced covering is distinctly different from active buying by new funds, with the former potentially indicating limited sustainability of the rally. Previously, when BTC broke through $70,000, over $4 billion in short positions were liquidated within two days, further amplifying the upward momentum.